Cyprus-Forum.com

[danny1234]

I would be pulling my hair out now if this was happening to my money, this is just tragic, there are many innocent hard working cypriots who are going to lose 20% of their money, I don't think this is the way to go about sorting out the banking system. This will create havoc on the streets.

[die7]

How will those with 101.000 euros react to having 20% raided from their account by frau Merkel and her henchman Schrauble. Will the Russians put up with this, will the rich GC's tolerate this, somehow I don't think so.

That's Cyprus:

http://www.cyprus-mail.com/cyprus/tales ... y/20130324

Constantly living beyond his means for so many years, it's just over now.

[GreekIslandGirl]

How will those with 101.000 euros react to having 20% raided from their account by frau Merkel and her henchman Schrauble. Will the Russians put up with this, will the rich GC's tolerate this, somehow I don't think so.

It's only the part over the guaranteed 100,000 which is under discussion for this 20% levy. The first 100,000 is not touched. So if you have 101,000 they will tax the 1,000 at 20%. Note, nothing has been decided yet. Except the decision to respect the 100,000 guarantee status.

[B0B]

nothing ever will be "decided" on that matter
thats how banks work
your money was given as a loan to someone to build his house
he can not pay it back - the house goes on a quick sale
whatever the money is taken from that sale will cover the expenses for the deal
and the rest will be given back to you
in this crisis chances are you will get nothing back
but if an event happens, like if tomorrow they announce the gas is 100 times the amount it was previously though
you may get all your money back and even the bank will be on profit